DENVER, CO / ACCESSWIRE / December 15, 2016 / Medicine Man Technologies Inc. (MDCL), one of the country's leading cannabis branding and consulting companies announced that it will end the year with at least 23 new clients in eight states including clients in CA, OR, MD, PA, AK, CO, FL and Puerto Rico noting 12 of these new relationships were entered into during the fourth quarter of this year. The Company has continued to expand its relationships and influence in the industry through its activity in these states and will continue to expand its industry presence as additional markets become available.
In addition to extending its current service offerings, the Company is pursuing strategic acquisitions that will allow it to offer additional products and services to clients as it continues to work towards completion of the Pono Publications and Success Nutrients acquisitions. The Company has an open ended interim operating agreement with both of these businesses so that it may work to streamline integration once this acquisition is completed. Andy Williams, the Company's CEO, recently stated, "This acquisition should provide the Company with a both a new as well as residual revenue stream in addition to adding a very talented executive in Josh Haupe," who has been referred to as the "Steve Jobs of Marijuana." In addition to this acquisition, the Company is actively pursuing other potential acquisition targets that will allow it to continue to expand consulting service and other product offerings. As the Company continues to execute its strategic plan of establishing itself as a premier brand warehouse on a national level, management is optimistic that the Company will successfully reach one of its goals to qualify for listing of its common stock on a nationally recognized exchange.
According to the market research firm Arcview, the legal US cannabis market is expected to grow to $20.6 billion by 2020 from $5.4 billion in 2015. While no assurances can be provided, management of Medicine Man Technologies expects that the Company will continue to experience strong growth as the cannabis industry continues to expand
About Medicine Man Technologies
Established in March 2014, the Company secured its first client/licensee in April 2014. To date, they have provided guidance for several clients that have successfully secured licenses to operate cannabis businesses within their state. It currently has twenty-seven active clients in 12 states [AT3] and Puerto Rico, focusing on working with licensees and clients to 1) utilize its experience, technology, and training to help secure a license, 2) deploy the Company's highly effective variable capacity constant harvest cultivation practices through its deployment of Cultivation MAX, and eliminate the liability of single grower dependence, 3) avoid the costly mistakes generally made in start-up, and 4) stay engaged with an ever expanding team of licensees and partners, all focused on quality and safety that will 'share' the ever-improving experience and knowledge of the network.
Safe Harbor Statement
This press release may contain forward-looking statements which are based on current expectations, forecasts, and assumptions that involve risks as well as uncertainties that could cause actual outcomes and results to differ materially from those anticipated or expected. This includes statements related to the amount and timing of expected revenues, as well as any payment of dividends on our common and preferred stock, statements related to our financial performance, and expected income, distributions, and future growth for upcoming quarterly and annual periods. These risks and uncertainties are further defined in filings and reports by the Company with the U.S. Securities and Exchange Commission (SEC). Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements, due to a number of factors detailed from time to time in our filings with the Securities and Exchange Commission. Among other matters, the Company may not be able to sustain growth or achieve profitability based upon many factors including, but not limited to, general stock market conditions. Reference is hereby made to cautionary statements set forth in the Company's most recent SEC filings. We have incurred and will continue to incur significant expenses in our expansion of our existing, as well as new, service lines, noting there is no assurance that we will generate enough revenues to offset those costs in both the near and long term. Additional service offerings may expose us to additional legal and regulatory costs and unknown exposure(s) based upon the various geopolitical locations we will be providing services in, the impact of which cannot be predicted at this time.